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A Real Option Dynamic Decision (RODD) Framework for Operational Innovations
| Title: | A Real Option Dynamic Decision (RODD) Framework for Operational Innovations. |
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| Name(s): |
Onkham, Wilawan, Author Rabelo, Luis, Committee Chair O'Neal, Thomas, Committee Member Pazour, Jennifer, Committee Member Yazici, Hulya Julie, Committee Member University of Central Florida, Degree Grantor |
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| Type of Resource: | text | |
| Date Issued: | 2013 | |
| Publisher: | University of Central Florida | |
| Language(s): | English | |
| Abstract/Description: | Changing the business operations and adopting new operational innovations, have become key features for a business solution approach. However, there are challenges for developing innovative operations due to a lack of the proper decision analysis tools, lack of understanding the impacts transition will have on operational models, and the time limits of the innovation life cycle. The cases of business failure in operational innovation (i.e. Eastman Kodak Company and Borders Group Inc.,) support the need for an investment decision framework. This research aims to develop a Real Option Dynamic Decision (RODD) framework for decision making, to support decision makers for operational innovation investments. This development will help the business/organization to recognize the need for change in operations, and quickly respond to market threats and customer needs. The RODD framework is developed by integrating a strategic investment method (Real Options Analysis), management transition evaluation (Matrix of Change), competitiveness evaluation (Lotka-Volterra), and dynamic behavior modeling (System Dynamics Modeling) to analyze the feasibility of the transformation, and to assess return on investment of new operation schemes. Two case studies are used: United Parcel Service of America, Inc., and Firefighting Operations to validate the RODD framework. The results show that the benefits of this decision-making framework are (1) to provide increased flexibility, improved predictions, and more information to decision makers; (2) to assess the value alternative option with regards to uncertainty and competitiveness; (3) to reduce complexity; and (4) to gain a new understanding of operational innovations. | |
| Identifier: | CFE0005039 (IID), ucf:50002 (fedora) | |
| Note(s): |
2013-12-01 Ph.D. Engineering and Computer Science, Industrial Engineering and Management Systems Doctoral This record was generated from author submitted information. |
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| Subject(s): | Real Options Analysis -- Operational Innovation -- Strategic Investment -- Competitiveness -- Operational Innovation Transformation | |
| Persistent Link to This Record: | http://purl.flvc.org/ucf/fd/CFE0005039 | |
| Restrictions on Access: | campus 2014-12-15 | |
| Host Institution: | UCF |
